Benson Elliot acquires Polish office building

Benson Elliot Capital Management, a private equity real estate fund manager based in the United Kingdom, has extended its reach into Poland with the acquisition of Chmielna 134, an office building in central Warsaw.

The seller was an institutional fund, according to Benson Elliot. The acquisition brings Benson Elliot’s Polish office holdings to more than €200 million ($224 million).

The transaction was made on behalf of the firm’s pan-European fund, Benson Elliot Real Estate Partners IV, a closed-end opportunistic fund that invests on behalf of corporate pension funds, endowments, family offices, foreign institutions, insurance companies and public pension funds.

Launched in 2014, the fund completed its final close in June 2016, hitting its hard cap of €625 million ($701 million).

Built in 1995 and refurbished in 2012, the property comprises 14,100 square meters (151,771 square feet) of modern office space, and it includes ground-floor retail and